Alphabet Inc. (NASDAQ:GOOG) is Harrington Investments INC’s 7th Largest Position

Harrington Investments INC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 32,020 shares of the information services provider’s stock after selling 957 shares during the period. Alphabet makes up 2.9% of Harrington Investments INC’s holdings, making the stock its 7th biggest holding. Harrington Investments INC’s holdings in Alphabet were worth $5,353,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $92,000. Vima LLC purchased a new position in Alphabet during the 4th quarter worth $158,000. Northwest Bank & Trust Co purchased a new position in Alphabet during the 4th quarter worth $3,166,000. Richardson Financial Services Inc. acquired a new position in Alphabet during the 4th quarter valued at about $34,000. Finally, Processus Wealth & Capital Management LLC acquired a new stake in Alphabet in the fourth quarter worth about $2,506,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.1 %

Shares of NASDAQ:GOOG traded up $1.78 during midday trading on Monday, reaching $166.30. 4,796,668 shares of the company’s stock were exchanged, compared to its average volume of 19,717,715. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm’s 50 day simple moving average is $162.81 and its two-hundred day simple moving average is $169.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOG shares. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Oppenheimer decreased their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.